https://www.taxtmi.com/caselaws?id=192541 A document expressed as a sale was construed as a mortgage by conditional sale under section 58(c) of the Transfer of Property Act because its terms, read as a whole, showed that title would remain with or revert to the executants on repayment within the stipulated period, while the transferee would obtain absolute title only on default. The repayment clause, retention of possession, and default consequences pointed to a debtor-creditor relationship rather than an outright sale. Surrounding circumstances, including discharge of an earlier mortgage and borrowing for related land proceedings, reinforced that construction. The transaction was therefore treated as a mortgage by conditional sale, not a sale with a mere repurchase covenant. en-us Wed, 14 Apr 1954 00:00:00 +0530 Mon, 05 Jun 2017 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192541 A document expressed as a sale was construed as a mortgage by conditional sale under section 58(c) of the Transfer of Property Act because its terms, read as a whole, showed that title would remain with or revert to the executants on repayment within the stipulated period, while the transferee would obtain absolute title only on default. The repayment clause, retention of possession, and default consequences pointed to a debtor-creditor relationship rather than an outright sale. Surrounding circumstances, including discharge of an earlier mortgage and borrowing for related land proceedings, reinforced that construction. The transaction was therefore treated as a mortgage by conditional sale, not a sale with a mere repurchase covenant. Case-Laws Indian Laws Wed, 14 Apr 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192541